CDB: overseas investment not to be zero-sum game

Overseas investment is not a zero-sum game and it must insist the principle of mutual benefit and common development, said Chen Yuan, chairman of China Development Bank (CDB) Tuesday, at the opening ceremony of Chinese Foreign Investment and Cooperation Fair. He pointed out that companies should accompany the process of a pursuit in investment returns with a positive commitment to social responsibility in order to promote the coordination of social and economic development.

Zhang said that China's overseas investment reached a total of about 33 billion U.S. dollars in first 3 quarters, 1 percent up year-on-year. It reflects the spirit of Chinese companies in international operation and expansion of international cooperation.

Chen urged Chinese investment companies to pay more attention on the development of local infrastructure, livelihoods, employment and environment to help enhance the capability of self-development and sustainable development of investment destinations, especially developing countries.

Due to the financial crisis, global cross-border investment declined sharply year on year. While in spite of this China's overseas investment has increased. "Bringing in" and" Going out" are two wheels for China's opening up, said Zhang Xiaoqiang, deputy director of NDRC (China's National Development and Reform Commission).

A UNCTAD official said that China's overseas investment had increased 111 percent in 2008 while global overseas investment was down 13.5 percent. Lenovo and Huwei's investment in foreign countries has brought many jobs for them.

By People's Daily Online